Slide 1: Advancing Projects in Major Gold Provinces
ASX: PRU | www.perseusmining.com T= SIMITED ) Advancing Projects in Major Gold Provinces Mark Calderwood, Managing Director February 2006
Slide 2: Overview
€ 5 Overview Perseus Mining listed on the ASX in late 2004 to explore for and develop large gold deposits within regions that host numerous “World Class” gold deposits. Perseus has built a strong portfolio of exploration projects in West Africa and the Kyrgyz Republic which have been selected using
Slide 3: West Africa is amongst the most prolific regions for recent gold discoveries
West Africa is amongst the most prolific regions in the world for recent gold discoveries Ivory Coast . Ghana * Politics improving. “ce An African success * Newmont, Randgold, story. Golden Star, Equigold, +.» Anglogold-Ashanti; Etruscan, Cluff are Newmont, Golden present. : Star, Red Back, Adamus a
Slide 4: Capital & Finances
Listed Sep 2004 Capital & Finances Ord. Shares 3.1-January:2006 72.92M Options 29.31M Tradeable shares (PRU) ~~ 39.48M Tradeable options (PRUO) 19,29M Top 20 68.4% « --CIG/Directors 36.3% + Macquarie Bank 4.8% Cash at hand Dec05 A$2.4M Monaro Shares & Options A$0.7M Market Cap. 31 January 2006-:. A$
Slide 5: Key Projects
€ Key Projects Tolubay — Kyrgyz Republic (100%) At Obdilla, significant insitu mineralisation discovered in “Carlin Style” setting. Tengrela — Ivory Coast (80%) Currently drilling one of the best groups of untested soil anomalies in West Africa Grumesa — Ghana (90%) 450,0000z resource, in feasibilit
Slide 6: Progress
Taken Obdilla (Tolubay Project) from soil anomaly to insitu discovery to resource drilling in 5 months; First resource at Obdilla expected well before anniversary of discovery; Drilling started at Tengrela in Ivory Coast, early success; Macquarie Bank Limited has taken an initial 4.8% stake. Progres
Slide 7: The Perseus Team
€ The Perseus Team * Quality management and board — Extensive ‘in country’ experience in West Africa and the Kyrgyz Republic; — Strong geological credentials — with discovery history; and — Extensive corporate and ASX experience.
Slide 8: Board of Directors
€ | Board of Directors Reg Gillard (Chairman) Public company director for 18 years, current mineral industry directorships include Caspian Oil & Gas, Pioneer Nickel, Aspen Group and producer Lafayette. Mark Calderwood (Managing Director) 10 years West African exploration management, 3 years Kyrgyz e
Slide 9: Tolubay - Kyrgyz Rep.
D Perseus Tolubay - Kyrgyz Rep. pce (100%) Carlin style deposit in Tien Shan, large tonnage potential. Obdilla prospect 2,000m long 50-200m wide, trenches 70m# @ 2.0g/t, 52m* @ 2.6g/t, 78m# @ 1.7g/t and 68m# @ 1.7g/t Au. - Drilling has commenced 1*' hole on main zone - 72.5m* @ 2.4g/t, 24 hole 90.5m
Slide 10: Tolubay - Kyrgyz Rep.
Tolubay - Kyrgyz Rep. © oe ~ (100%) Suspected eonat esses insite manaateation aw, | Q 77 Cometed sit occ00s ‘a Proposed deat pads, a rinarassutin aa7 Completod iit acer ‘© Proposed dei pady “Tiuech Sampiing 7 : Totubai Suite ~ Ue calcareous sillstone, . 8 sandstone and gravelite ~ = Dome Mixed Limes
Slide 11: Tengrela - Ivory Coast
» Perse(re _Tengrela - Ivory Coast MINING LIMITED | (80%) Located on the border of Ivory Coast | Q Lo ne —. . orla7Moz | ts and Mali in an area known for: | (Anglogold Ashanti| : Randgold) yy - Large gold deposits including one ae of the top mines in the world — ects I Morila; TT a Syama (6.5Moz) |
Slide 12: Tengrela - Ivory Coast
Tengrela - Ivory Coast (80%) Sissingue Prospect - Tengrela Gold Project Drilling commenced late Nov 2005 seh En >20,000m allocated to 8 prospects: | . TING LT MIN ¢ First drill results included 33m @ l1g/t Au; * Continuous reconnaissance drilling planned; ¢ Second drill rig being sought to follow up
Slide 13: Grumesa - Ghana (90%)
Grumesa — Ghana (90%) 450,0000z resource, currently targeting 50,0000z for toll treatment, 35km away, at Obuasi with Anglogold-Ashanti. Reserve drilling partially.completed. Kayeya Gold Prospect registered with EPA, draft environmental impact statement completed. CIL Metallurgical testwork, +98% rec
Slide 14: Savoyardy - Kyrgyz Rep.
» De ses Savoyardy - Kyrgyz Rep. MINING LT - SSE : (100%) : SAVOYARDY DEPOSIT, Le ae Adit 3990 ¢ Also located in exceptionally rich Tien Shan gold belt. * High grades from recent adit sampling: > 7m @ 12.9g/t; > 2m @38.9g/t, 2m @ 37.3gIt. 24082095. * Plans to drill high grade zones to confirm part o
Slide 15: Kwatechi - Ghana (76%)
Kwatechi — Ghana (76%) Promising regional geological setting. Kobo Zone 10,000m long 700m. wide, trench intercepts include: > 10m @ 14.3g/t; * 8m @ 10.9g/t; and. * 4m @75g/t Au. Previous drilling open intercepts of: + 12m @ 2.2¢/; * 10m @ 2.3g/t; * 8m @ 2.3¢/t; and + 12m @ 1.7¢/t Au. Atua zone 3,000
Slide 16: Objectives to March
Objectives to Mar 06 Tengrela — ongoing results from a drilling program, 8,800m completed to date — most assays pending. Tolubay — ongoing drilling results and ramp up of drilling program to 3 rigs. : Grumesa — completion of feasibility and EIS Savoyardy, Talas, Maly Naryn — detailed planning for 20
Slide 17: Comparison between Ashanti and Syama gold belts
Interesting comparison ~ between. geologically similar iene Ashanti and ~~ Syama gold belts. note: . exploration in Ashanti belt started ~100 years prior to . Syama belt Thank You MINING LIMITED i 4 | 2. SVAMA GOLD BELT | ory coast. Mau i i £7 atiasas frimsives woke, = EE rules aisorsokemies: by Mio